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Japan's Sharp may begin construction on US$7b US plant before June 30: source

Wed, Feb 08, 2017 - 11:35 AM

Japanese display maker Sharp Corp may start building a US$7 billion plant in the United States before June 30, taking the lead on a project initially considered by its Taiwanese parent Foxconn, a person with knowledge of the plan said.

PHOTO: REUTERS

[TOKYO] Japanese display maker Sharp Corp may start building a US$7 billion plant in the United States before June 30, taking the lead on a project initially considered by its Taiwanese parent Foxconn, a person with knowledge of the plan said.

The decision by Foxconn, formally Hon Hai Precision Industry Co Ltd, to give Sharp the lead on the project comes as Japanese Prime Minister Shinzo Abe prepares to travel to the United States to meet US President Donald Trump.

In a package expected to please Mr Trump, Mr Abe will unveil investments to create as many as 700,000 US jobs, people familiar with the matter told Reuters earlier.

A spokesman for Sharp said no decision on the plant had been made. The person with knowledge of the plan was not authorised to speak to the media and so declined to be identified.